SEC postponing decision on VanEck/SolidX Bitcoin ETF

The proposal was initially filed by Cboe in collaboration with money management company VanEck and blockchain company SolidX last summer.

Some had argued that proposal from New York-based VanEck, the ninth biggest ETF provider, was more likely to gain approval thanks to plans for a high minimum share price that would discourage retail investors.

Previous ETF proposals of ProShares, GraniteShares and Direxion were rejected by the SEC.

The SEC explained: “The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change,” The securities regulator said that it had received more than 1,600 comments on the proposed rule change as of December 6.